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News related to Crypto / Finance Regulator, Central Bank Say Cryptocurrency Regulation

« on: December 08, 2018, 06:35:09 PM »

Malaysia’s finance regulator and central bank issued a joint press statement Dec. 6 in which they confirmed they were “putting in place” legislation on cryptocurrency and Initial Coin Offering (ICO) assets.

The statement from the Malaysia’s Securities Commission (SC) and Bank Negara Malaysia (BNM), which follows comments from senior government official that regulation of the sector could appear in Q1 2019, also reiterates the need comply with securities laws where appropriate.

“The SC will regulate issuances of digital assets via initial coin offerings (ICO) and the trading of digital assets at digital asset exchanges in Malaysia,” it confirmed.

“Regulations are currently being put in place to bring digital assets within the remit of securities laws to promote fair and orderly trading and ensure investor protection.”

Malaysia has slowly enacted a formalized stance on cryptocurrency activities this year. Last month, in addition to revealing the potential deadline, the country’s finance minister Lim Guan Eng also stated that anyone wishing to issue a new asset could only do so with BNM’s blessing.
“I advise all parties wishing to introduce Bitcoin (style) cryptocurrency to refer first to Bank Negara Malaysia as it is the authority that will issue the decision on financial mechanism,” he said.

Among those eyeing the developments is a local initiative dubbed “Hope Coin,” the creators of which may have to wait for the process to complete before launching.

The moves come hot on the heels of Thailand, which is around six months into the introductory phase of its own regulation.

Source: https://cointelegraph.com/news/malaysia-finance-regulator-central-bank-say-cryptocurrency-regulation-being-put-in-place?utm_source=Telegram&utm_medium=social

News related to Crypto / South Korea’s Finance Ministry Considers Taxing Crypto and ICO

« on: December 04, 2018, 05:58:36 PM »

South Korea's Finance Ministry is considering taxation on cryptocurrencies and Initial Coin Offerings (ICOs), daily English-language newspaper The Korea Times reports Monday, Dec 3.

Hong Nam-ki, South Korea’s new Minister of Economy and Finance as well as new Deputy Prime Minister, revealed that а crypto taxation plan will be finalized according to global taxation trends in the industry.

Pointing to the current ICO ban in South Korea, the deputy prime minister stated that the authorities will also form a new stance to the crypto industry, based on careful consideration of “market conditions, international trends and investor protection issues.” In his written answer submitted to the National Assembly for his confirmation hearing planned for Tuesday, Dec. 4, Hong continued:

"We will determine our policy orientations on ICOs with relevant agencies after reviewing the results of the financial regulator's market survey and getting feedback from experts.”

The minister revealed that South Korea’s government is planning to set up a task force formed from relevant state agencies, such as the National Tax Service, in order to examine foreign cases of taxing crypto as well as the ICO industry.

In the statement, Hong wrote that cryptocurrencies are “electronics signs of values issued privately,” as compared to assets issued by central banks or other financial institutions.
The minister has urged for crypto regulation that would be developed and agreed upon internationally, noting that there are around 2,000 cryptocurrencies traded worldwide, with 160 of coins operating in the domestic market. At the same time, Hong stressed that the authorities “need to be careful” in setting up a due regulatory framework.

As well, the deputy minister claimed that authorities “will do [their] utmost to nurture” blockchain technology, stressing that 90 percent of blockchain-related businesses, except crypto exchanges, can be considered as venture companies, citing Statistics Korea.

In October, Cointelegraph reported on South Korea’s government allegedly planning to announce its official stance towards ICOs in November, as revealed by South Korea’s then-“top official,” Hong Nam-ki.

After banning ICO sales back in September 2017, South Korea’s government began to consider legalizing the sphere in August 2018, which went in line with the country’s plans to build its own “blockchain island” in the Jeju Island Resort. In October, a member of South Korea’s National Assembly Min Byung-doo called on the state to “open up the road” to ICOs, urging that “prohibition is not the only way.”

Source: https://cointelegraph.com/news/south-koreas-finance-ministry-considers-taxing-crypto-and-icos-new-minister-reveals?utm_source=telegram&utm_medium=social

News related to Crypto / Swiss Fintech License Allows Blockchain

« on: December 04, 2018, 05:52:52 PM »

The Swiss Financial Market Supervisory Authority (FINMA) has released guidelines for their new “FinTech” license, according to a FINMA official press release released Dec. 3
The Swiss financial regulator revealed that license pursuants, which can be blockchain-related and crypto-related firms, will be able to apply for the fintech license with the state authority starting from 2019.

The license, which FINMA notes has “relaxed requirements” under the country’s banking ordinance, allows fintech companies to accept public deposits of up to 100 million Swiss francs (CHF), or around $100 million. Within the terms of the license, companies are neither allowed to invest the public deposits nor pay interest on them.

In order to receive the license, an applicant must provide a number of details about their fintech project, including a business description, business financial plan, assets storage method, risk management, anti-money laundering (AML) policies, and others.

The license document, entitled “Guidelines for FinTech licence applications pursuant to Article 1b of the Banking Act,” has been in development since February this year, and is planned to be adopted on Jan 1.

Earlier in November, FINMA issued Switzerland’s first crypto license, which targeted crypto asset investment funds. The license allows crypto-related firms to legally provide a number of collective investment services, as well as tracking Bitcoin (BTC) and other crypto assets, including domestic funds.

The financial watchdog has previously released guidelines for the regulation of Initial Coin Offerings (ICOs), considering those guidelines as a way of helping blockchain technology.

Source: https://cointelegraph.com/news/swiss-fintech-license-allows-blockchain-crypto-firms-to-accept-100-mln-in-public-funds?utm_source=telegram&utm_medium=social

News related to Crypto / Japan’s Financial Regulator to Introduce New ICO Regulations

« on: December 02, 2018, 06:00:18 PM »

Japan’s financial regulator is set to introduce new Initial Coin Offering (ICO) regulations to protect investors from fraud, local news outlet Jiji Press reported Dec. 1.

According to “informed” sources cited by Jiji, business operators conducting ICOs will be required to register with Japan’s Financial Services Agency (FSA).

The agency is reportedly planning to submit bills revising financial instruments, exchanges and payment services laws to the ordinary parliamentary session that starts in January.
This action has been undertaken “in view of a number of possibly fraudulent ICO cases abroad” as a way “to limit individuals' investment in ICOs for better protecting them.”
A study reported by Cointelegraph this July identified 80 percent of the ICOs conducted in 2017 as scams.

As Cointelegraph Japan reported last month, the FSA Study Group on Virtual Currency Exchange industry conducted its tenth meeting to discuss ICOs. The tokens emitted during ICOs where classified into three categories: virtual currencies without issuer, virtual currencies with issuer and tokens with issuers that are also obliged to distribute revenues.

According to the report, the first and second token classifications are subject to settlement regulation such as the Financial Instruments and Exchange Act. The third of ICO tokens is subject to investment regulations like the Financial Instruments and Exchange Act.

Source: https://cointelegraph.com/news/japans-financial-regulator-to-introduce-new-ico-regulations?utm_source=Telegram&utm_medium=social

News related to Crypto / Overstock CEO Reveals Estimated Date for Selling Retail Business

« on: November 25, 2018, 05:44:13 PM »

Patrick Byrne, founder and CEO of U.S. retail giant Overstock, is planning to sell the retail arm of his company to focus on blockchain by early next year, The Wall Street Journal (WSJ) reports Nov. 23.

Byrne, known in the blockchain industry for his commitment to the technology, did not disclose the details of the agreement, nor did he name potential buyers; he did however tell the WSJ that he expects to have the deal closed by February 2019.

The WSJ reports that Byrne has been planning to sell his e-commerce business since 2017 to fully devote himself to blockchain projects.

According to WSJ, Overstock’s blockchain-focused subsidiary Medici Ventures is the cause of visible losses for the company. In 2017, Medici lost $22 million, while in the first nine months of 2018 it has already lost $39 million. The overall losses for Overstock amounted $163.7 million for the reported period of 2018.

Byrne, however, remains stalwartly optimistic about his blockchain ventures. “I don’t care whether tZero [one of the projects backed by Medici] is losing $2 million a month. We think we’ve got cold fusion on the blockchain side,” he explained in the interview.

Medici losses compared to overall Overstock losses in
2017-2018. Source: WSJ

Overstock was launched back in 1999 to sell surplus and returned merchandise online and became a “pioneer” in the crypto space by becoming one of the first major companies to accept Bitcoin (BTC) in 2014.

According to WSJ, a remote blockchain-driven voting in U.S. state of West Virginia was among the projects that Medici backed this year. As Cointelegraph reported following the matter, in the 2018 midterm elections, 144 military personnel stationed overseas from 24 counties were able to vote via a decentralized mobile platform Voatz. Despite the concerns about the security of mobile voting, West Virginia’s officials considered the experiment a success.

Another project supported by Overstock’s blockchain division is a land registry platform in Zambia. In August, Medici Land Governance partnered with the Zambian government to develop a system of decentralized land ownership, allowing rural landowners to legitimize their estates and gain access to the financial world.

Source: https://cointelegraph.com/news/overstock-ceo-reveals-estimated-date-for-selling-retail-business-to-focus-on-blockchain?utm_source=telegram0&utm_medium=social

News related to Crypto / Announces Efforts to Extend Deadline for Civil Rehabilitation Claims

« on: November 24, 2018, 08:11:54 AM »

Nobuaki Kobayashi, trustee of the now-defunct Bitcoin (BTC) exchange Mt.Gox, is making efforts to extend the deadline for filing civil rehabilitation claims, according to an official announcement Nov. 22.

While the official deadline for the filings was given as October 22, for both individual and corporate users, today’s announcement indicates that:

“If filings are delayed for reasons not attributable to creditors, proofs of rehabilitation claims filed after the deadline [...] may be acceptable. Whether [these] will be accepted is determined by the court [...] the Rehabilitation Trustee will make efforts to request the court to accept proofs of rehabilitation claims received by December 26, 2018 (Japan time).”

The announcement further outlines detailed online and offline methods for submitting a claim ahead of the potentially extended deadline of December 26.
As reported, roughly 24,000 creditors are thought to have been affected by Mt. Gox’s 2011 hack and subsequent collapse in early 2014, which resulted in the loss of 850,000 BTC valued at roughly $460 million at the time.

Tokyo attorney Nobuaki Kobayashi, who has been appointed to act as civil rehabilitation trustee to manage Mt. Gox’s bankruptcy estate funds, has recently issued a statement that indicated he had liquidated almost 26 billion yen (about $230 million) in Bitcoin (BTC) and Bitcoin Cash (BCH) over four months as of early March 2018.

Kobayashi earned the ambivalent moniker of Tokyo’s Bitcoin Whale amid allegations his crypto sell-offs had a conspicuously adverse effect on markets; he subsequently pledged to cease the liquidations when civil rehabilitation proceedings began in June of this year.

Source : https://cointelegraph.com/news/mt-gox-trustee-announces-efforts-to-extend-deadline-for-civil-rehabilitation-claims?utm_source=telegram0&utm_medium=social

News related to Crypto / Bitcoin Fundamentals ‘Still Intact’ Despite Price Lows

« on: November 24, 2018, 07:47:08 AM »

The 2018 cryptocurrency price decline is a result of investors’ “lack of education,” the CEO of Canadian firm Blockchain Intelligence Group (BIG) said in an interview published in German economics news outlet Finanzen.de Nov. 23.

Speaking with a representative of German investment bank GBC AG, BIG’s CEO Lance Morginn suggested the combination of entry-level investors piling in during 2017, regulatory uncertainty and standard principles of supply and demand resulted in the 2018 bear market.

“You couple all these factors together, along with the lack of understanding that the average individual has of the sector, and that's the reason the pricing of crypto and where it's at today,” the search, analytics and risk management company’s CEO told the publication.

Bitcoin (BTC) has led the majority of crypto assets into a fresh downward spiral over the past week, shedding around 30 percent to hit lows not seen in more than a year.

Many assets performed worse in the most recent crash that began Nov. 14, with Bitcoin Cash (BCH) experiencing separate problems related to its recent hard fork, which contributed to its sharp decline, topping at 50 percent.
The idea of novice investors blindly entering the market during the bull run in late 2017 has become a popular narrative among various commentators this year, the expectation being that long-term holders will be all that remain if prices stay low long enough.

Morginn is one of those unfazed by the recent downturn.
“The good news for BIG, however, is that as long as crypto has a form of value and the criminal element could be using it as a mechanism of payment, our services are more than necessary to our clients, so this decline does not impact us in a long run,” he continued.

“The fundamentals of the industry are still intact.”

A survey from pro-Bitcoin former U.S. congressman Ron Paul this week saw tens of thousands of respondents choose Bitcoin over gold and fiat currency as a ten-year investment option.

Source: https://cointelegraph.com/news/bitcoin-fundamentals-still-intact-despite-price-lows-says-blockchain-intelligence-group?utm_source=telegram0&utm_medium=social

News related to Crypto / Bitcoin Could Hit $15-20K by End of 2019

« on: November 23, 2018, 05:50:14 PM »

The Chief Commercial Officer (COO) of global crypto payment processor BitPay has ventured that Bitcoin (BTC) will hit $15,000 to $20,000 by the end of 2019. The COO, Sonny Singh, made his forecast during an interview with Bloomberg Nov. 22.

In the midst of a bearish market picture – with Bitcoin down over 32 percent in value on the month – Singh said that he expects the next big price action to come when mainstream financial sector giants such as Fidelity and Intercontinental Exchange (ICE) start to launch their crypto-based investment products next year.

The financial giants’ entry into the space could catapult Bitcoin’s price to as high as $15,000-$20,000 by the end of 2019, Singh told reporters.

Aside from traditional financial incumbents’ launch of crypto-based products, Singh pointed to structural changes in the crypto market itself, with stalwart companies such as U.S. crypto exchange and wallet provider Coinbase and crypto bank Silvergate gearing up for possible initial public offerings (IPOs).

Singh forecast that next year would therefore herald an “exciting” moment: the launch of a crypto-based exchange-traded fund (ETF) by a “Blackrock-type” company or a Fidelity product will energize the space as traditional players jostle for market dominance against “the Bitpays and Coinbases” of the sector.

Singh nonetheless drew a firm distinction between Bitcoin and altcoins, arguing that:

“There’s a night and day difference between Bitcoin and everything else. Bitcoin is the under pound gorilla, it’s the one that has the mass network effect… [the one] the traditional financial incumbents are building products around. Other [crypto assets] […] I don’t know what’s going to happen to them.”

Remarking that “the ICO market is pretty dead right now,” Singh also suggested that signs of increased intervention from the U.S. Securities and Exchange Commission (SEC) does not bode well for the future of the token space.
In an interview this September, Singh outlined a broadly similar argument that the crypto markets are on the threshold of a certain “defining moment,” which will come with big institutional investor market entry, set to “become real” in 2019.

Source: https://cointelegraph.com/news/bitpay-coo-sonny-singh-bitcoin-could-hit-15-20k-by-end-of-2019?utm_source=Telegram&utm_medium=social

Kripto berita dan diskusi (Bahasa Indonesia) / MOVED: Bagaimana cara menggunakan FORKDELTHA

« on: November 23, 2018, 07:33:30 AM »

This topic has been moved to Pemula.

https://www.altcoinstalks.com/index.php?topic=72135.0

Kripto berita dan diskusi (Bahasa Indonesia) / MOVED: Cara Aman untuk Menyimpan Bitcoin

« on: November 21, 2018, 07:31:37 AM »

This topic has been moved to Pemula.

https://www.altcoinstalks.com/index.php?topic=21667.0

News related to Crypto / Greek Supreme Court is Violating Alleged Bitcoin Launderer’s

« on: November 20, 2018, 12:01:54 PM »

The lawyer representing the alleged former operator of now-defunct crypto exchange BTC-e, Alexander Vinnik, has accused the Greek Supreme Court of “grossly violating” his rights, major Russian state-owned news agency TASS reported Nov. 19.
39-year old Russian national Vinnik, a.k.a “Mr. Bitcoin,” was indicted by U.S. authorities and detained in Greece on July 25, 2017 on criminal charges of fraud and laundering up to $4 billion in Bitcoin (BTC) via BTC-e.

Russia and France have since both sought the defendant’s extradition in regard to a further series of fraud allegations. When a Thessaloniki court ruled in support of Vinnik’s extradition to France this summer, he appealed against the decision at the Supreme Court.

As TASS reports, Vinnik’s lawyer Zoya Constantopoulous has this week accused the Supreme Court of failing to provide translations of court documents at her client’s request, in what she has argued is “a violation” of his rights:

"As of November 17, [Vinnick] did not receive an official translation of the documents of the French extradition request [...] these documents were not translated into Russian, they have no seals or signatures.”

The lawyer further accused the Greek judiciary of discrimination on political/national grounds, claiming that the court would not have similarly treated “any Greek or EU citizen."

Vinnik’s legal representatives reportedly consider that his extradition to France will result in his further extradition to the U.S. Russia’s Ministry of Foreign Affairs issued a comment this July accusing the Greek authorities of “continu[ing] to complicate relations with Russia,” and requesting that Russia’s extradition request be given priority over that of France.

TASS states that a decision over the conflicting extradition requests will likely be settled by the Greek Ministry of Justice, or the country’s leadership.

Following the closure of BTC-e in July 2017, the U.S. has been seeking a penalty of $110 million from BTC-e and another $12 million from Vinnik for his alleged role in the exchange’s anti-money-laundering (AML ) violations.

As he continues to publicly defend his innocence and rebuff that he was ever an operator of BTC-e, Vinnik has further been prompted to deny involvement in the 2011 Mt. Gox hack in response to crypto security experts’ claims he had a direct relationship to the incident.

A New York Times report this fall indicated that BTC-e is suspected of handling funds used by a Russian military intelligence unit, which U.S. investigators have accused of hacking Democrats’ emails ahead of the 2016 presidential elections.

Source: https://cointelegraph.com/news/greek-supreme-court-is-violating-alleged-bitcoin-launderers-rights-lawyer-argues?utm_source=Telegram&utm_medium=social

News related to Crypto / The Bitcoin Cash (BCH) network update,

« on: November 17, 2018, 04:16:12 PM »

The Bitcoin Cash (BCH) network update, which many predicted would lead to a hard fork, began as scheduled today, Nov. 15.

At press time, Bitcoin ABC and Bitcoin Unlimited are currently leading Bitcoin SV in terms of both hash rate and number of nodes, according to Coin.Dance. Under the new consensus rules, 41 blocks have been already mined, wherein Bitcoin ABC is 12 blocks ahead.

The update has led cryptocurrency exchanges around the world to suspend BCH trading and withdrawals.

The news about the protocol upgrade has divided the BCH community in two camps as there are two dominating proposals for the implementation of the BCH network in the form of Bitcoin ABC and Bitcoin SV (Satoshi’s Vision).

Bitcoin ABC stands for “Adjustable Blocksize Cap”, and its proponents argue that the basic structure of BCH is “sound,” and “does not need any radical change”. Proposed changes include “removing software bottlenecks” and enabling node operators to change their block size limit.

Bitcoin ABC is supported by crypto evangelist Roger Ver, while Bitcoin SV supporters are led by Craig Wright, who has previously declared himself to be the mysterious Bitcoin inventor Satoshi Nakamoto. The SV camp promotes radically changing the current BCH structure, where its split is designed to entirely overwrite the network scripts of Bitcoin ABC and increase the BCH block size from 32MB to a maximum of 128MB.

The issue of a BCH upgrade caused a heated dispute in the community; Wright engaged in verbal battles with Bitmain’s co-founder Jihan Wu, who accused Wright of being a Blockstream spy. Wright’s messages to ABC, Roger Ver, and Bitmain have turned into bankruptcy threats and accusations of being engaged in Silicon Road machinations and child pornography.

A continued feud between the crypto communities would have a significant impact on the crypto market in general, while a split caused by a hard fork will affect the entire network.

Source: https://cointelegraph.com/news/hours-after-bitcoin-cash-network-update-begins-bitcoin-abc-over-10-blocks-ahead?utm_source=Telegram&utm_medium=social

News related to Crypto / Bitcoin’s Breakdown Will Take ‘Weeks If Not Months’ to Rebound

« on: November 16, 2018, 08:52:01 AM »

lt will take “weeks, if not months” to repair the “technical damage” caused by the recent collapse of Bitcoin (BTC), according to a Fundstrat Global Advisors analyst, Bloomberg reports today, Nov. 15.

In a note to clients yesterday, cited by Bloomberg, Fundstrat’s Rob Sluymer predicted that Bitcoin’s collapse yesterday has pushed crypto markets into a “deeply oversold” area, while “longer-term technical indicators aren’t so favorable.”

Sluymer concluded that Bitcoin will be able to support a “multi-month rally,” but only after the “significant” damage done this week has been overcome:

“This week’s breakdown produced significant technical damage that will likely take weeks, if not months, to repair to create a durable enough price ‘structure’ to support a multi-month rally.”

Yesterday, the largest cryptocurrency Bitcoin dipped below the $5,600 price point for the first time since October 2017, breaking longstanding recent support around $6,000 and hitting multi-month records of volatility.

A trader at eWarrant Japan Securities K.K. in Tokyo, Soichiro Tsutsumi, told Bloomberg today that the loss of $6,000 support looks like a “dangerous sign” for industry players, especially the ones with “business models reliant on a client pool.”

The recent crypto market slump has also reportedly caused a decline in the shares of crypto-connected companies, including Japanese SBI Holdings and Monex Group. Both Monex Group, owner of crypto exchange Coincheck, and SBI Holdings suffered a slump of more than 2 percent to close at two-week lows in Tokyo, Bloomberg reported.

Source : https://cointelegraph.com/news/bitcoins-breakdown-will-take-weeks-if-not-months-to-rebound-says-fundstrat-analyst?utm_source=telegram&utm_medium=social

News related to Crypto / Former Manchester United Star to Support Crypto Startup

« on: November 15, 2018, 05:16:09 PM »

Soccer Legends Limited, a Hong Kong-based startup, is aiming to integrate blockchain technology into soccer, the most popular sport in the world. The project is designed to “bridge the gap between soccer superstars, youth talents and fans.” Soccer fans can use the 433 Token to support a future superstar, interact with the most famous players and to influence important soccer-related decisions.

According to the company, Paul Scholes (Manchester United legend 11-times English Premier League champion) and Andriy Shevchenko (AC Milan legend, UEFA Champions League Top Scorer, Ballon d'Or winner and Ukraine’s head coach) have officially joined the project. They not only support the project but will “personally participate in the ecosystem as mentor and event hosts.”

Soccer Legends Limited says it has also an official partner in Global Legends Series (GLS), a league of retired soccer legends. The plan is to sign sign eight more famous players once fundraising is completed.

Soccer meets blockchain

Having over 4 billion fans, soccer is estimated to be the most popular sport in the world. There are around 300 thousand soccer clubs and 240 million active players across the globe. Soccer Legends Limited believes that blockchain technology can be the instrument for fans to become much more involved in their favorite sport and with their beloved stars and clubs. The company created its own ecosystem based on the new 433 Token, which is an ERC-20 compliant token built on the Ethereum blockchain.

Soccer Legends Limited offers a system led by the “Fellowship of Legends”, a selected group of legendary soccer players. They have a “Principal” status and can pick young talented players - aged 16 to 18 - from different soccer academies and mentor them. This means the “Principals” meet their students at least four times a year personally, teach them techniques, ethics, leadership and also provide financial support if there is a need in physical training, nutrition, sports science. The soccer legends will also check the progress and introduce young players to the scouts, clubs, agents, and endorsements.

Before the Principals start mentoring, they will offer 433 Token holders the opportunity of sponsoring the mentorship of the next superstars, via smart contract. Sponsors get to follow the mentorship closely and access the youth talents’ detailed training data.

Bidding and voting

Another utility option that Soccer Legends Limited offers fans is bidding. The company is going to organize special events with personal participation of soccer legends, such as charity dinners, a personal guided Giuseppe Meazza Stadium museum tour or even a Legend-vs-Fans penalty shootout at Old Trafford. The events will be auctioned and fans all over the world can bid with 433 tokens. According to the company, the highest bidder will attend the event, the ones who are not that lucky will get their tokens back.

Finally, 433 Tokens can be used for voting. Fans will be able to choose the venue, rosters or game format of upcoming Global Legends Series (GLS) games. For example, they can decide in which city GLS should arrange a Legends game in June 2019: in Rome, Shanghai, Tokyo, or Miami.

Presale of 433 Tokens will start on November 16, 2018. There will be 300 million tokens available for purchase which is 30 percent of the total sale. Each 433 Token will cost US$0.09.

Source : https://cointelegraph.com/news/paul-scholes-former-manchester-united-star-to-support-crypto-startup?utm_source=telegram&utm_medium=social

News related to Crypto / Crypto Exchange OKEx Launches Trading in Argentina

« on: November 15, 2018, 04:59:33 PM »

OKCoin, the parent company for world’s largest cryptocurrency exchange OKEx, has launched fiat-crypto trading services in Argentina, the company revealed in a tweet Thursday, Nov. 15.

According to the company’s blog post about the move, customers can already deposit Argentine pesos (ARS) in exchange for major cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Ripple (XRP), Cardano (ADA), Stellar (XLM), Zcash (ZEC), and 0x (ZRX) “and more.”

OKCoin has also revealed its plans to extend its services all over Latin America, adding other local fiats to the list “in the coming months.” The company also revealed its plans to open an office in Buenos Aires in the near future, building up a team to support development in the region.

As of press-time, OKEx, a global service based in Hong Kong, is the world’s largest cryptocurrency exchange by daily trading volume, reaching $1.6 billion in trades to press time, according to CoinMarketCap.

Argentina has seen several crypto-friendly moves throughout the year. In May, local bank Banco Masventas began allowing clients to use Bitcoin for cross-border transactions; in June, crypto enthusiasts launched a travelling “Bitcoin-wagon” campaign to promote cryptocurrency awareness in rural Argentina.

In another expansion move, Binance, the world’s second largest crypto exchange by press time, recently extended its fiat-crypto trading services to Uganda, letting customers trade crypto against the Ugandan shilling.

Source : https://cointelegraph.com/news/parent-co-of-worlds-largest-crypto-exchange-okex-launches-trading-in-argentina